Update on FirstPort Charges

By Nige on July 27, 2021 at 9:17 am
Type: News Category: Service Charges
Tags: FirstPort

Thought it was worthwhile noting some details about what FirstPort has charged us to date. For each of the 140 properties, each has been charged:

• £30 admin fee. No one was aware of this charge and no one signed up to it.
• £22.64 balancing charges covering 2020 and 2021 (as per invoice).

So that makes (across all 140 properties):

• £4,200 in admin fees.
• £3,170 in balancing charges.

It may be that FirstPort hasn’t taken into account all 140 properties since some of the properties are yet to be registered with FirstPort.

In the accounts there is a breakdown of the expenses incurred by the Management Company (MC) which can be summarised as follows:

• Insurance: £220 (2020) and £125 (2021) = £345.
• Management Fees: £570 (2020) and £300 (2021) = £870.
• Accountancy Fees: £330 (2020) and -£150 (2021) = £180.
• Secretarial Fees: £348 (2020) and £348 (2021) = £696.
• Sundries: £139 (2020) and £185 (2021) = £324.

That’s a total of £2,415. We need to clarify with FirstPort how that ties in with the £7,370 that FirstPort has declared in charges on our statements. If anyone has already clarified any of these costs with FirstPort, we would be interested in hearing from you.